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Who has been given credit or developing the double-entry system of bookkeeping?
Spontaneous Financing
Financing provided by current liabilities that arise automatically as a result of doing business.
Accounts Payable
Short-term liabilities a company owes to its creditors or suppliers, expected to be settled within one year.
Bank Loan
A sum of money borrowed from a bank that needs to be repaid with interest.
Accrual
An accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.
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